John Lewis to pay Sheffield council £5m after closing store despite 20-year lease

John Lewis will pay Sheffield City Council £5m to surrender their lease obligations on the Baker's Pool Department store in the city centre.

The retail giant closed down its store in Sheffield in August after just 10 months, but had a lease on the building until 2040.

The city council says the site will play a central role in the planned redevelopment of the city centre.

The department store had been at the centre of Sheffield's retail offering since the early 1960s and was once the home of retailer Cole Brothers.